“No! No way!!” I overhear the agent tell her fellow agents at a builder open house. “There is no way I’m showing a house that doesn’t pay at least a 2.5% commission to the buyer’s agent.”
I eavesdrop on the group of agents circling the lady making the statement for all to hear.
“If the seller can’t pay me any more than that, then their house doesn’t get shown!”
I shake my head and separate from the pack of jackals that are in complete agreement with her declaration.
This is not an isolated incident. On one of the real estate agent, Facebook pages a similar sentiment was expressed. The agent’s client loved a house that was paying only a .5% commission.
To this agent’s credit, she did put an offer in on the house. I must wonder though did she do the best job she could to help her client get the house they loved.
Of more concern were the comments that many agents made regarding her post. Some suggested the Buyer pay their agent’s commission. (The standard operating procedure is for the Seller to pay the commission to both agents.)
Others chastised her for even showing the house in the first place.
The MLS that real estate agents use is really a glorified database. As such the results of searches can be filtered, manipulated.
One broker, I use to work for instructed me to filter out any homes that did not offer at least a 3% commission.
Had I agreed to do this my clients, those I had vowed to represent and protect, would never have had the opportunity to know about a home that may have been a perfect fit for their family. Just because it did not pay a commission that my then broker thought was appropriate.
One of the reasons I left that agency was because of an incident where I secured a contract for my buyer client that paid 2%. When I brought the contract into that broker he had a fit. Saying “You should have never shown that house in the first place! Never do that again!!”
It has been my experience that desperate people take desperate actions.
I believe that if there is not a legitimate reason why a home cannot be shown or an offer placed an offer you should run from that agent. He is looking out for his bottom line and not for your interests. What some more examples of unethical behavior in the real estate industry? Click here.
Business principle #2: If the buyer wants to see a home, show it!
Have you run into an agent that refused to show you a home without a good reason?
Do you know someone that would like to join in the conversation? Click Here.